Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 36,100 Rio Tinto plc ADR (RIO)

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Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Rio Tinto plc ADR (NYSE:RIO) during the fourth quarter, HoldingsChannel reports. The fund purchased 36,100 shares of the mining company’s stock, valued at approximately $1,750,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Community Bank N.A. lifted its position in shares of Rio Tinto by 4.3% during the 4th quarter. Community Bank N.A. now owns 4,848 shares of the mining company’s stock valued at $235,000 after buying an additional 200 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Rio Tinto by 10.7% during the 4th quarter. Parallel Advisors LLC now owns 2,164 shares of the mining company’s stock valued at $104,000 after buying an additional 209 shares during the last quarter. Coastline Trust Co lifted its position in shares of Rio Tinto by 5.1% during the 4th quarter. Coastline Trust Co now owns 6,240 shares of the mining company’s stock valued at $302,000 after buying an additional 300 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of Rio Tinto by 4.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 7,969 shares of the mining company’s stock valued at $386,000 after buying an additional 303 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Rio Tinto by 19.4% during the 4th quarter. Proficio Capital Partners LLC now owns 2,026 shares of the mining company’s stock valued at $98,000 after buying an additional 329 shares during the last quarter. 7.74% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on RIO. Goldman Sachs Group cut Rio Tinto from a “buy” rating to a “neutral” rating in a report on Wednesday, February 27th. They noted that the move was a valuation call. Societe Generale cut Rio Tinto from a “hold” rating to a “sell” rating and set a $55.23 price objective on the stock. in a report on Thursday, March 7th. UBS Group cut Rio Tinto from a “buy” rating to a “neutral” rating in a report on Wednesday, March 6th. Bank of America cut Rio Tinto from a “neutral” rating to an “underperform” rating in a report on Thursday, February 28th. Finally, HSBC cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Rio Tinto presently has an average rating of “Hold” and an average target price of $56.66.

Shares of RIO opened at $56.00 on Friday. The stock has a market cap of $71.29 billion, a P/E ratio of 11.05 and a beta of 0.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 1.98. Rio Tinto plc ADR has a 52-week low of $44.62 and a 52-week high of $60.72.

The business also recently disclosed a semiannual dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 8th will be issued a dividend of $1.806 per share. This is a boost from Rio Tinto’s previous semiannual dividend of $1.27. The ex-dividend date of this dividend is Thursday, March 7th. This represents a yield of 6.19%. Rio Tinto’s dividend payout ratio is 71.01%.

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Rio Tinto Company Profile

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.

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Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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